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When to Apply for Medicare ?
If you’re just turning 65, already retired with Medicare, or younger and qualified for Medicare because of a disability, we will help you make the most of your valuable Medicare health benefits. Here at Gary W. Blackmon Insure Life Agency, we have exceeded our client’s expectations for over a decade. We need to know where you live, your age, and more about your expectations and preferences for coverage and premiums. Then we can help you choose the best Medicare insurance for your unique situation.
If you would like answers to your specific questions, don’t hesitate to email or call our Medicare coverage helpline.
Otherwise, continue on with our free Medicare Guide to understand:
why you need supplemental Medicare insurance?
Which Medicare supplement you should choose?
The best time to buy a Medicare supplement
Why Original Medicare Part A and B Aren’t Enough?
Once you enroll in Original Medicare, you get a wide range of benefits that can help you pay for all kinds of medical services. You should know that Medicare limits health benefits with copayments, coinsurance, deductibles, and things that Part A and B don’t cover at all. Some examples of gaps in coverage include the hospital deductible under Part A, the medical deductible under Part B, and 20-percent copayments under Part B. You also get no coverage for most prescriptions or most travel outside the country.
These coverage gaps encourage all almost all Medicare recipients to access additional Medicare insurance. Some of you may already have extra health insurance because of a job or government program, but many of you don’t. That’s why we encourage you to consider a Medicare supplement plan, a Medicare Advantage plan, and/or a Part D drug plan.
Selecting the Best Medicare Supplement Plan for You
Medicare supplements cover many out-of-pocket medical expenses that Original Medicare doesn’t pay for. In most parts of the country, you can choose between several different Medicare supplement plans. While having choices benefits you, picking from some a large menu can overwhelm many people.
Most of our clients are satisfied to choose between these three popular options:
Medicare Plan F: Sometimes called Medicare Part F, Plan F offers coverage for everything that Medicare allows a plan to cover. This includes all of the basic coinsurance payments and deductibles. It also covers the Part B deductible, health providers who charge more than Medicare allows, and even urgent medical care in foreign countries. People choose Medicare Plan F when they want to reduce or even eliminate the chance of having out-of-pocket expenses.
Medicare Plan G: Plan G is almost an identical twin to Plan F. The only thing that Medicare Plan G won’t pay for is the Part B annual deductible. Since this deductible is fairly modest, you might still save money because you can pay several dollars less a month for Plan G than you can for Plan F.
Medicare Plan N: We refer to Plan as the cost-sharing option. You can enjoy considerably lower premiums than you can for Plan F or Plan G. You will just need to pay modest copayments for some of your visits to a doctor or emergency room. Plan N also won’t pay for excess charges, or those charges over the amount Medicare allows. If you’re willing to choose health providers who accept Medicare Assignment, this shouldn’t cause you any trouble.
Choosing the Best Time to Enroll in a Medicare Supplement
Some states may offer you additional protections, but these are the federal rules that most states follow:
Medicare Supplements With Guaranteed Acceptance: Starting in the month you first enroll in Medicare Part A and B after turning 65, Medicare rules give you a Guaranteed Enrollment Period. During this time and for six months afterwards, you have a right to enroll in any Medicare supplement offered in your local area without answering any health questions. If you choose to buy a United Healthcare, Aetna, or Mutual of Omaha Medicare supplement, you cannot get turned down. No other insurer can turn you down either.
Special Periods for Medicare Supplement Guaranteed Acceptance: You might also qualify for another Guaranteed Enrollment Period after your initial period because of certain changes in your circumstances. Some examples of these special circumstances include losing job-related health insurance, moving out of your plan’s service area, or demonstrating that your current plan misrepresented themselves to you in some way.
You Can Apply for Medicare Supplements at Any Time
You’re welcome to apply for Medicare supplements even if you’re outside of a Guaranteed Acceptance Period. During that time, you will have to answer questions about your health. In some cases, health insurance companies could charge your more or deny coverage because of a pre-existing condition. However, if you have Original Medicare, you’re free to apply any time. You don’t even have to worry about an annual Open Enrollment Period like you do for Medicare Advantage Plans.
What if You’re on Medicare but Haven’t Turned 65 Yet?
Some people will qualify for Medicare because of qualified disabilities before they turn 65. While some states offer generous Guaranteed Enrollment Periods, federal laws and most states don’t. That’s why we suggest looking into good Medicare Advantage plans for many Medicare recipients who haven’t turned 65 yet. Once you turn 65, you get the same Guaranteed Enrollment Period as everybody else does, so you may reconsider your choice at that time.
Will a Medicare Supplement Cover Prescription Drugs?
If you looked into Medicare Advantage plans, you know that most of them bundle in drug coverage. Medicare designed Medicare supplements mostly to fill in coverage gaps for Original Medicare. Since Part A and B of Medicare typically only cover prescriptions that you might get in hospitals or certain other inpatient or outpatient facilities, you won’t get help paying for the kinds of medications that you might pick up at your corner drugstore.
If you have a Medicare supplement and no other drug plan, you will need to enroll in a Part D plan. Many Medicare beneficiaries prefer this because they can shop for the most competitive supplement and the best drug plan for their needs separately.
Take the Next Step
As an independent insurance agency, we’re here to serve you and not one particular insurance company. We can suggest Medicare plans that fit your own unique needs, preferences, and budgets. You are welcome to call us for free at Call 866-936-3831 866-936-3831 or contact us online here.
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